[ANN] (WC) | WhiteCoin | BIG NEWS: Foundation, investors & more ☯ whitecoin.info

[blitzkitten]

And people asked me "Why Shair partnered with Whitecoin"... Well to us it's pretty clear that we align with the Community, simply look at the above initiatives and their early support  

Shout Outs:
--> WNW - Excellent addition of #7
--> Surfguy72 - Super work on updating and moving this forward - I really like your regulations link: http://www.cryptocoinsnews.com/news/bitcoin-regulation-inevitable-black-white-bitcoins-explained/2014/08/05?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-regulation-inevitable-black-white-bitcoins-explained
--> WC Community - Awesome support thus far, keep your votes coming for what you want most for WC, we are loving what we are seeing!

To keep you all in the loop, I am shairing the daily fundraising/updates with our teams to keep them in the loop as to the communities desires and support.  The direction of these priority developments are excellent with IRL applications, merchant and services focused.  Shair is currently evaluating how it can best support these developments, obviously this will be dependent upon the Community wants/needs & level of importance/support for these. 

From the current 2 front runners, #7 could directly involve Shair (DandyID/Claimio) therefore I will focus on this item as this seems to be the current #1 requested/supported development at this time.

Your input will help define these developments, some quick questions regarding these developments in order of pledged donations thus far:

#7 - Trusted/Known/Verified Users

--> WNW summed it up quite nicely:

"Your wallet would be certified by a trusted third-party entity that has established authenticity of your identify based on information that would normally be deemed too confidential to provide to a point-to-point entity. Along the same concept has acquiring an SSL Certification for your Web Site whereas you have public and private keys. Thus, when transacting business peer-to-peer, identity is established without either party needing to question the trust relationship. Shair has holdings via DandyID, so conceptually may work in and around that type of service where you actually have a third-party entity to broker and administer that relationship in the coin (and could extend to other coins as a value). Lots of possibilities exist within that framework, but it could be my meds kicking in..."

BTW - your meds work well, don't hop off them anytime soon

* With the above explanation, what information would you be willing to provide to to become "Certified/Verified"?  Example: passport/utility bill etc. etc.

* What would your expectations be for the trust relationship? / What would the verification represent to you when you see it? 

* What would happen if there was a "bad apple", then what? - Do you expect that the verification will be a warranty of sorts?  Please explain if you have thoughts on this

* Are you willing to pay an annual fee (like SSL) for this service?

* A use case would be great to ensure that we are all on the same page.

NOTE: There may be (probably will be) certain restrictions/requirements by the Cdn Gov't that we will more than likely have to comply with, however, as long as the community is willing to go through the necessary steps to become certified/trusted we are up for a much deeper analysis of seemless integration with our patented services/solutions...

Any additional comments that you may have are more than welcome, but I think the above will help further define/outline the expectations of a service of this type, we are looking forward to continuing to see where the community drives Whitecoin.

Additionally - If Shair and the community does decide that this is feasible to move forward with, we would look to our available development teams, partners, current and new development sources - in-conjunction/consultation with Mindfox and the level of involvement in this project that he can/is able to provide.  Shair would step up to drive/manage this process to fully execute the development/service through to implementation as this would become an integrated service offering by our holdings.

So here's the questions on the Table and some of my thoughts...

* With the above explanation, what information would you be willing to provide to to become "Certified/Verified"?  Example: passport/utility bill etc. etc.

Drivers license, passport, utility bill, any other bill prolly, must be 18+ to verify, ID from gov't - that type of stuff.  Nothing with a social security number (US only) should be required at this point.

* What would your expectations be for the trust relationship? / What would the verification represent to you when you see it? 

That any information would be held in a total private nature that no one else could see or request.  Verification would mean that you can ensure who you are dealing with is not a fudster, and would allow reputation to be built on a solid foundation.  It would enable better escrow for online deals, enable political donations, and would allow business to better adopt as many rules are coming out "knowing your customer."  I don't think we should bend completely to what is being proposed by gov'ts but this step would bring trust to the system.

* What would happen if there was a "bad apple", then what? - Do you expect that the verification will be a warranty of sorts?  Please explain if you have thoughts on this

I think whenever there is a system, there's someone trying to mess with it for sure.  I think the verification of an individual goes hand and hand with the building of reputation.  In the beginning, maybe there will be a way to integrate some of the things a user has already done online to build a little street credit.  But as far as warranty, i think only that every user goes through the same verification process is all you can say, over time, if the system works, the trust will be there.

* Are you willing to pay an annual fee (like SSL) for this service?

Possibly a fee, or a transaction fee for verified sent funds.  Would seem though the business end would want the money upfront.

* A use case would be great to ensure that we are all on the same page.

Political donations - People who run for office in various countries are only usually allowed to accept money from individuals located in that country, this may be a way to ensure that happens.

Escrow - As trust is built by users with a user, escrow for online transactions and business deals may be built.  This would be a feature requested, a rep system

Business Use - Merchants (in some countries) are required to know their customer when it comes to crypto and this would be a middle ground I believe rather than handing them over everything, they would be able to trust the sytem and still not have access to all my info to later sell lol.

Increased Integrity - Just like in the 1990's chat rooms... when you are fully anon, people can be whoever they want, but, when its your verified account, that can't be duplicated or replicated, it brings a certain amount of integrity to our actions and words.

The idea of supplying a passport/utility bill/drivers license seems a little over kill, and likely to be rejected as cumbersome by the internet community.  Rather, I see a system, much like this very thread, or Ebay, where you create a Nick and the transactions are tracked by that Nick.  The more positive transactions the more trustworthy the account and the more motivation to make sure your transactions go through smoothly.  

+1 on that, feed back system sounds good to me

[WhiteNotWright]

The idea of supplying a passport/utility bill/drivers license seems a little over kill, and likely to be rejected as cumbersome by the internet community.  Rather, I see a system, much like this very thread, or Ebay, where you create a Nick and the transactions are tracked by that Nick.  The more positive transactions the more trustworthy the account and the more motivation to make sure your transactions go through smoothly. 

I like the concept of aggregated positive transaction tracking and with that being able to "connect-the-dots" of all your "White Mode" transactions easily to provide a totally transparent history of all peer-to-peer activity for audit.

[surfguy72]

In the context of Whitecoin itself being used as a verification and validation transaction, I had envisioned the following structure which may not align to the goals of the community or partners, but wanted to further express my initial thoughts so it can soon gel:

There appears to exist two significant components to the structure:

ID Policy (the criteria defined to establish the identity and acceptable documentation)
ID Stake (the technical elements that establish the trust-relationship within the transaction)

The path to verification of identity (ID Policy) for the purpose of transparent or “White Mode” transactions within the crypto space should be as seamless as possible and global in nature and the derivative of such validation should exist both within the blockchain, associated Third-Party Verification (TPV) and “consumer” wallet(s).

How one establishes this derivative product that certifies (“signs”) the identification within the wallet(s) would be the result of both the ID Policy (however that is defined, but some unique digital element) and the technical implementation of signing the blockchain with unique identifiers (hash algo) generated from PoS within the wallet(s). Thus, the ID Policy element and ID Stake (blockchain and wallets) all work together to form an alliance of digital coin verification.

As an example, Winston initially signs up and pays a nominal annual fee and provides a certain level of identification documentation to the TPV broker such as DandyID that is aligned within the specific coin community to establish Proof of ID (PoID). This begins the ID Policy process and this information is derived the same way merchants or credit card companies require a certain level of information in order to establish credit worthiness for an individual (Credit Bureau Checks, DMV, Checking Accounts, etc.). Not really sure on this topic, but even the TPV could accept a token from some other TPV (like LifeLock) on the behalf of the consumer. Thus, normal identity protections services would need to be pinged to dialogue on the notion of providing ID tokens to the Crypto TPV as a service to the consumer. Basically saying “this token represents me IRL”...

Once the TPV has established proof-positive on the identification, they would then issue a unique token (digital element to serve as a public key) against their global policy wallet and then to the wallet of the consumer (individual or organization) spawning the ID Policy request. Once the token is accepted on the consumer wallet, a private key (digital element) would be created. The consumer wallet would then “Stake” a special block to both the consumer wallet, the TPV wallet and main blockchain thereby serving as the “certificate chain” in the identification signing process. Is this possible --I don’t even know...

Thus, whenever Whitecoin is used to conduct currency type transaction in open or “White Mode” in peer-to-peer fashion, all three elements would be validated and work in tandem to ensure authenticity of the transaction. You might now then be able to envision how you could charge a coin transaction fee back to the TPV wallet (credit) for each White Mode Exchange and also to establish transparent matter-of-record audit trails to transactions that are geared toward highly exposed regulation and public record.

That is the general nature of the design which is far from ideal or perfect and how one implements something of this nature is beyond me. This is why we are willing to pay for these services in order to establish this coin as the oracle of transparent currency.

Wow, great ideas my good sir!  I'm going to have to reread this a few times, but I would really like to turn your words into a visualization of this as some of us are better seeing concepts through pictures vs words.  Amazing input!

***

Might be keeping the image out of BCT for now, until we get further down the road... would hate to see some other coin claim it (not that its that pretty, but... ya know)

[surfguy72]

Hello!

Below is the list I pulled together based on previous posts.  With each idea is a WC address.  Future coin addresses will be added to allow other coins to be donated as well.  The funds donated can be returned at this point should an idea evolve to the point where you no longer support it.  Refunds will only be sent to the address from which the coins were sent.  As more information comes forth from the Dev team and/or other DEVS I will update you.  I have backed up the wallet for these addresses and is password protected.  I will work transparently with you before releasing funds to anyone and will give 48 hrs notice before any transfer.  Refunds will only be for the original amount, the interest earned would be fwd to the WCF.

1. Anon - Mindfox said it can be implemented from other work when its tested and working
WmFfYh4Y5rEpAmt31zmWHjEiSDBteRL7AF

2. Privacy - Implementation of TOR
WaTdeGtNSkW7oLDsZoZA1BNMwaTpvquXAj

3. Smart Contract - What would it take, what does a framework look like
WgMvUeu6vf7vFb1PVGmnfD6tvyFqSh7oWC

4. Reduce Confirmation Times - This could be reviewed now and determined what is required to make
this happen
WUET4WgYwz4HLx54faKYyRWMNbfa6K5gjj

5. Built in Voting App-propose new features, vote from wallet
WSYDAdSrx23BpC6MjBJ2pdWvfkVjYu6tEB

6. Wallet to wallet exchange - place your buys and sells and would then need to be a multicoin wallet
WffKeSgypEsHAYkZTMP6iXWws4Mn5By74G

***

7. Known User Transactions - using third party, a users wallet would become verified as a known person IRL and could send public transactions.
WQ2daSMKv7qBsgxJTBeSwKfTLoVDYsBZEr

Update 8/8/14

Jason has further reviewed and commented on integrating DandyID with Whitecoin ==>https://bitcointalk.org/index.php?topic=568517.msg8240005#msg8240005
A great post from WhiteNotWright further exploring the possibilities of this integration ==> https://bitcointalk.org/index.php?topic=568517.msg8240005#msg8240005

I'm going to be tied up this weekend, so next update will be on 8/11/14, I will be checking my messages and posting on here as time allows.  Hope everyone has a great weekend, and check back in for more progress this next week!

WCF Wallet - WdPskLzGkjXkSns3BgkRF5fW5SveTBS7tR - 706,795 WC

Developments in descending order of amount raised:
7. Known User Transactions - 490,666 WC
4. Reduce Confirmation Times - 351,500 WC
2. Privacy - 112,657 WC
5. Built in Voting - 100,000 WC
3. Smart Contract - 4,000 WC

TOTAL AMOUNT RAISED: 1,058,823 WC!
TOTAL AMOUNT FOR WhiteCoin DEVELOPMENT: 1,765,618 WC!

[delphs]

Not sure if there will be any interest for this but I'm auctioning off a Beta Key for Warlord of Dreanor with all the WC going to the development pot.

Rules:
 - 10K increment bids
 - Starts Now
 - Ends Wednesday 8pm Eastern time
 - Once the donation as been confirm by surfguy72, I'll PM you the beta key


Start bidding

[WhiteNotWright]

Not sure if there will be any interest for this but I'm auctioning off a Beta Key for Warlord of Dreanor with all the WC going to the development pot.

Rules:
 - 10K increment bids
 - Starts Now
 - Ends Wednesday 8pm Eastern time
 - Once the donation as been confirm by surfguy72, I'll PM you the beta key


Start bidding

I will start the bid at 50K

[delphs]

That's an awesome start

[Prototyp]

I offer zero, I hate WoW.

But nice action.

[tevayo]

Not sure if there will be any interest for this but I'm auctioning off a Beta Key for Warlord of Dreanor with all the WC going to the development pot.

Rules:
 - 10K increment bids
 - Starts Now
 - Ends Wednesday 8pm Eastern time
 - Once the donation as been confirm by surfguy72, I'll PM you the beta key


Start bidding

I will start the bid at 50K

I have no interest in Warlord of Dreanor, but if the bidding reaches 100000, im donate 50000 more for development.

[MadGhost]

That's an awesome start

yeah that is a start which will do some effective for the coin and make it a lift.

[WhiteNotWright]

I raise my bid to 100K

[poon4]

yes,we can do something for the coin

[tevayo]

I raise my bid to 100K

You just cost me 50000 xd!

[tevayo]

It seems that new ideas and increased funding for development is beginning to arouse curiosity and some DEVs have been spotted in the IRC Whitecoinfoundation

[WhiteNotWright]

It seems that new ideas and increased funding for development is beginning to arouse curiosity and some DEVs have been spotted in the IRC Whitecoinfoundation

I will enjoy a one-on-one with any DEV that can enjoy the visions we are putting forth and is honestly wanting to enhance the total alt community, but especially WC. I have alternate desires to see this coin being used in a way never imagined, but need the technical foundation built before the castle.

[delphs]

I raise my bid to 100K

You just cost me 50000 xd!

HA!  thanks for the support

I know not everyone's a fan but I thought could raise decent coin for the dev pot

[surfguy72]

I raise my bid to 100K

You just cost me 50000 xd!

HA!  thanks for the support

I know not everyone's a fan but I thought could raise decent coin for the dev pot

Awesome stuff!  Anyone got Warcraft orcs and humans? That was my favorite 😄

Well busier weekend than I thought, jimmy buffet is doing a concert shortly at the shark week fun fest in hermosa,ca!  Any locals wanna meet me there, your first beer is on me!

[malbee]

Awesome stuff!  Anyone got Warcraft orcs and humans? That was my favorite 😄

Well busier weekend than I thought, jimmy buffet is doing a concert shortly at the shark week fun fest in hermosa,ca!  Any locals wanna meet me there, your first beer is on me!

Sounds fun...but I'm nowhere near there this weekend...  Have a great time!

[DumDumz]

Edit : sorry wrong post

[delphs]

White Coin is on the edge of being de-listed from Bittrex by tomorrow.

There's a warning on the trading page for WC.

we don'T need to be on multiple exchange, and most users use Mintpal... not really a problem